V.P.O.: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
V.P.O.
Largest movements
- Cash -€2,590
down €2,590 (-50.7%), from €5,108 to €2,518
mainly Net result for the year (-€5,869) and Trade debts (-€1,614)
- Receivables within one year -€1,943
down €1,943 (-92.3%), from €2,104 to €162
of which Other amounts receivable: -€1,061
- Profit (loss) carried forward -€5,869
down €5,869 (-8.3%), from -€70,308 to -€76,177
- Other debts +€4,233
up €4,233 (+73.8%), from €5,737 to €9,969
- Trade debts -€1,614
down €1,614 (-84.8%), from €1,902 to €288
- Tax, wage and social debts -€1,283
no longer reported in 2025 (was €1,283)
- Other operating charges -€11,516
no longer reported in 2025 (was €11,516)
- Gross operating margin -€8,608
down €8,608, from €3,163 to -€5,446
- Financial income -€270
down €270 (-96.8%), from €279 to €9
- Financial charges -€97
down €97 (-18.3%), from €529 to €433
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,364 | €2,831 | -€4,533 | -61.6% |
| Fixed assets | 21/28 | €151 | €151 | = | 0.0% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €7,212 | €2,680 | -€4,533 | -62.8% |
| Amounts receivable within one year | 40/41 | €2,104 | €162 | -€1,943 | -92.3% |
| Trade receivables | 40 | €882 | - | -€882 | |
| Other amounts receivable | 41 | €1,223 | €162 | -€1,061 | -86.8% |
| Cash at bank and in hand | 54/58 | €5,108 | €2,518 | -€2,590 | -50.7% |
| Total equity and liabilities | 10/49 | €7,364 | €2,831 | -€4,533 | -61.6% |
| Equity | 10/15 | -€1,558 | -€7,427 | -€5,869 | -377% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,308 | -€76,177 | -€5,869 | -8.3% |
| Amounts payable | 17/49 | €8,921 | €10,258 | +€1,336 | +15.0% |
| Amounts payable within one year | 42/48 | €8,921 | €10,258 | +€1,336 | +15.0% |
| Trade debts | 44 | €1,902 | €288 | -€1,614 | -84.8% |
| Suppliers | 440/4 | €1,902 | €288 | -€1,614 | -84.8% |
| Taxes, remuneration and social security | 45 | €1,283 | - | -€1,283 | |
| Taxes | 450/3 | €1,283 | - | -€1,283 | |
| Other amounts payable | 47/48 | €5,737 | €9,969 | +€4,233 | +73.8% |
| Other operating charges | 640/8 | €11,516 | - | -€11,516 | |
| Gross operating margin | 9900 | €3,163 | -€5,446 | -€8,608 | |
| Operating profit (loss) | 9901 | -€8,353 | -€5,446 | +€2,908 | +34.8% |
| Financial income | 75/76B | €279 | €9 | -€270 | -96.8% |
| Recurring financial income | 75 | €279 | €9 | -€270 | -96.8% |
| Financial charges | 65/66B | €529 | €433 | -€97 | -18.3% |
| Recurring financial charges | 65 | €529 | €433 | -€97 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,603 | -€5,869 | +€2,734 | +31.8% |
| Profit (loss) for the period | 9904 | -€8,603 | -€5,869 | +€2,734 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,603 | -€5,869 | +€2,734 | +31.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.